Electroceramics Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI2799
Global Electroceramics Market size is witnessing a decent growth from the past few years and is expected to follow the similar trend over the forecast spell. These products are also called as advanced ceramic materials which find major applications in electrical, optical and electromagnetic applications. Increase in demand of automobiles and consumer electronic products in the Asia Pacific region due to increase in disposable income coupled with population growth will drive the electroceramics market demand in forecast timeframe. This is all owing to significant usage of the product in automotive and electronic items as a key part of sensors, capacitors, etc. as it holds excellent thermal and electrical resistant features.
The product possesses high electrical resistivity and is primarily used as insulator to isolate electrical conductors in power transmission line. Growing demand for energy has increased the T&D (transmission and distribution) expenditure which has resulted in expansion of T&D infrastructure consequently. This in turn will enhance the product demand as they are used as insulator in distribution line. The products having low dielectric constant have application in making substrates for integrated circuits. Significant growth in sales of consumer electronics owing to initiatives taken by governments of developing economies will further boost the demand of electroceramics market in coming years.
Based on product type, electroceramics market is majorly classified into five categories; dielectric ceramics, piezoelectric ceramics, ferroelectric ceramics, magnetic ceramics and others. The others product segment includes ceramic insulators, pyroelectric ceramics etc. Among these dielectric ceramics are extensively used in applications such as sensors, actuators and capacitors. Technology development and rising pollution concerns will uplift the demand of electric and hybrid cars and this in turn will escalate the product demand in future. Magnetic ceramics possesses properties such as high electrical resistivity, strong magnetic coupling which makes it suitable for data storage, tunnel junctions, high frequency, spin valve and in radar absorbing & coating applications. Developing countries such as China and India have increased their defense budget by 8.1% amounting USD 175.0 billion and 2.4% amounting USD 52.5 billion respectively. With more geopolitical and safety issues the aforementioned trend will follow, and this will drive the electroceramics market growth size subsequently in forecast time.
Based on application, electroceramics market is broadly classified into electronics, energy and power, automobile and others. The other applications include environment monitoring, aerospace & defense, etc. Piezoelectric ceramics are used to generate signals by the application of mechanical stress and this property makes them ideal to be used as sensors, actuators, sonar wave detectors, etc. The product is also used in inkjet printers to control the flow of inks, in loudspeakers to convert voltage into mechanical movement as fuel injectors in diesel engines and in thermal imaging equipments. Electroceramics are also used as detectors for IR radiations through gas samples. Stringent environmental norms make the usage of pollution control devices in industries mandatory and this will drive the industry size subsequently by 2025.
Based on region, Asia Pacific constitute the largest share in the electroceramics market size due to substantial growth in semiconductor and electronics industries. Electronic industry has experienced highest growth in the region owing to recent initiatives taken by the governments to promote domestic manufacturing, rapid technological advancements, large consumer base and availability of low cost resources. The electronics market in India is expected to reach USD 400 billion by 2020. In 2016, India witnessed USD 18.36 billion FDI in electronics manufacturing and this trend mentioned above will continue to follow. This in turn will boost the electroceramics market growth in coming years.
The prominent players in electroceramics market are Coorstek Inc., Hitachi Metals America Ltd., Piezo technologies, Materion Corporation, Annon Piezo Technology Co. Limited, Harris Corporation, Morgan Advanced Materials, Ceradyne Inc., Dexter Magnetic Technologies Inc., Accuratus Corporation, Keltron Electro Ceramics Ltd., Rubicon Technology, APC International Ltd., Advanced Abrasives, Kyocera Corporation, Maruwa Co. Ltd. Most of the companies are engaged in the expansion of product range and line as well as expansion in emerging markets through acquisitions, associations and mergers. For instance, in 2014, CoorsTek Inc. started its new subsidiary CoorsTek Medical LLC exclusively to cater the medical industry need which will provide high-performance engineered ceramic products and components to medical industry utilizing its prior experience in this field.
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